State pensions under fire

Speaker designate Will Weatherford calls system archaic

11:52 PM,
Nov. 13, 2012

Will Weatherford

Written by

Arek Sarkissian II
| Florida Capital Bureau

Incoming state House Speaker Will Weatherford said Tuesday new state workers should not be allowed to sign up for the Florida Retirement System's pension plan, which leaves its less-popular investment plan as the only option.

Weatherford said the defined benefit plan is archaic and the state should follow the footsteps of the private sector, which adopted the investment retirement plan system years ago. Current employees will continue to have a choice between the two plans.

"But for new employees, we have to recognize that it's time for states to be fiscally responsible long-term and ...